Kuwaiti oil drops to $116.65
The price of the Kuwaiti oil barrel decreased to $116.65, a decline of $1.45 compared to the previous day, according to data from the Kuwait Petroleum Corporation. In global markets, the futures contracts for Brent crude rose by $6.42 to reach $107.63, and for US West Texas Intermediate crude, they increased by $6.43 to reach $102.48. Reports indicate that Kuwait increased its oil production to 1.89 million barrels per day in August, amid competition among six companies for a pipeline tender.
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